Subsidized Housing China

Few people would complain about a rise of $1 in their monthly rent. But for residents of China's capital, long used to paying pennies, housing reform is the first real crack in the iron rice bowl--a socialist cradle-to-grave welfare system that takes care of the people at the expense of state finances.

Few people would complain about a rise of $1 in their monthly rent. But for residents of China's capital, long used to paying pennies, housing reform is the first real crack in the iron rice bowl--a socialist cradle-to-grave welfare system that takes care of the people at the expense of state finances.